Man Group plc Takes $54.16 Million Position in Nasdaq, Inc. $NDAQ

Key Points

• Man Group acquired 687,066 Nasdaq shares worth approximately $54.16 million during the second quarter, giving it about a 0.12% stake. Institutional investors collectively own 72.47% of Nasdaq.
• Nasdaq reported quarterly EPS of $1.07, exceeding estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. Analysts expect full-year EPS of approximately $4.15.
• Nasdaq declared a quarterly dividend of $0.31, equivalent to $1.24 annually and a 1.3% yield. Wall Street maintains a generally positive view, with an average “Buy” rating and a consensus price target of $110.30.

Man Group plc acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 687,066 shares of the financial services provider's stock, valued at approximately $54,155,000. Man Group plc owned about 0.12% of Nasdaq at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fiduciary Financial Advisors bought a new stake in Nasdaq in the 2nd quarter valued at $25,000. MV Capital Management Inc. bought a new position in shares of Nasdaq during the 4th quarter worth about $28,000. Nemes Rush Group LLC bought a new position in shares of Nasdaq during the 4th quarter worth about $35,000. Uniplan Investment Counsel Inc. acquired a new position in shares of Nasdaq during the fourth quarter valued at about $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Nasdaq during the fourth quarter valued at about $37,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Price Performance

Shares of Nasdaq stock opened at $98.73 on Wednesday. The firm has a market cap of $55.19 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96. The firm's 50-day simple moving average is $90.19 and its 200-day simple moving average is $88.12. Nasdaq, Inc. has a twelve month low of $76.55 and a twelve month high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, research analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, September 11th. Nasdaq's dividend payout ratio is currently 36.15%.

Insider Activity

In other news, insider Pc Nelson Griggs sold 11,010 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the transaction, the insider directly owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ab Investor bought 56,782 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the transaction, the insider directly owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,797 shares of company stock worth $3,926,319. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NDAQ. Barclays reissued an "overweight" rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $102.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Morgan Stanley reissued an "overweight" rating and set a $120.00 price objective on shares of Nasdaq in a report on Friday, July 24th. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Nasdaq in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $110.30.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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